Indian shares rose slightly in choppy trade on Monday as forecast of an extended monsoon season sent cement makers and agriculture-related firms higher, offsetting lingering concerns from Britain's vote to leave the European Union.
The 30-share BSE index Sensex ended higher by 5.25 points or 0.02 per cent at 26,402.96 and the 50-share NSE index Nifty ended up 6.1 points or 0.08 per cent at 8,094.75.
Among BSE sectoral indices, healthcare index gained the most by 2.01 per cent, capital goods 1.62 per cent, realty 1.29 per cent and FMCG 1.25 per cent. On the other hand, IT index was down 1.86 per cent, TECk 1.66 per cent, and auto 0.25 per cent.
Top five Sensex gainers were Dr Reddy's (+3.04%), State Bank of India (+2.77%), Sun Pharma (+2.67%), Cipla (+2.62%) and L&T (+2.36%), while the major losers were TCS (2.93%), Infosys (-2.37%), Asian Paints (-1.48%), Wipro (-1.23%) and Bharti Airtel (-1.07%).
Global markets
European stock markets fell on Monday, weighed down by uncertainty over Britain's decision to leave the European Union, but the Madrid market rose after Spain's election.
A report by SMC Global said: " Asian stock markets are mixed today and Japan's government and central bank will hold an emergency meeting today to discuss how to respond to Brexit-related effect. The pound sank to sit at 30-year lows, while most stock markets tumbled following Britain's decision to leave the European Union. Market participants are worried it would lead to months of uncertainty.
US market: Brexit vote leads to sell off and stocks moved sharply lower during the trading session on Friday.
Oil prices dropped around half a per cent on Monday, extending sharp declines after Britain's vote to leave the European Union sparked a sharp sell-off in lobal markets on Friday amid concerns over risk aversion.
London Brent crude for August delivery (LCOc1) was down 24 cents at $48.17 a barrel by 2250 GMT on Sunday, after settling down $2.50, or 4.9 per cent, at $48.41 on Friday. NYMEX crude for August delivery (CLc1) was down 26 cents at $47.38 a barrel, after closing down $2.47, or 4.9 per cent, on Friday.
Oil prices were also under pressure as the British pound fell anew in early Asian trading on Monday, with investors still at a loss as to what happens next now that the country has voted to leave the European Union."